Gary Pinkerton talks with Brian Burke, President & CEO of Praxis Capital as well as a former firefighter, police officer, and ambulance EMT, about his journey from first responder to creating and running a $150+ million company.

The two discuss how Brian found/made the time, when he realized it was time to switch careers, his thoughts on real estate, and finding favorable areas to invest in.

Key Takeaways:

[5:33] How was Brian able to find the time and energy to create his company while being a firefighter/police officer/ambulance EMT?

[9:19] Brian eventually reached the point where his real job was getting in the way of his investing job (where he could make more money), so he had to make the switch. The weird hours of being a first responder definitely helped him in his real estate journey.

[13:51] If you have a job and are thinking that you don't want to do real estate investing full time, you don't have to. Brian started with a goal of 1 rental home a year

[18:20] How investors have sold properties in California in order to buy a whole lot more in other, more favorable, investing areas

[21:26] Brian's thesis on real estate

Website:

www.PraxCap.com

Gary Pinkerton starts off today's episode discussing ways you can protect yourself when vetting a prospective tenant, some of them involve NOT doing things. He also discusses the rising trend of social accountability and why he believes it's a good thing.

Then, Jason Hartman talks with John Simpson. John invested in the trailblazing Rent Reporters before it’s official launch because he believed in the business model. He now runs the company as CEO and is the corporate cheerleader to this fairly new, progressive company. Mr. Simpson shares the benefits of his service to both renters and landlords, how to participate in the process and testimonials about the benefit to those this service has affected positively.

Key Takeaways:

Gary Intro:

[2:27] Why it's a bad idea to call the previous landlord about your prospective tenant

[4:04] Social accountability is taking more hold in our society

Jason Interview:

[8:54] Before Rent Reporters there was no mechanism for tenants to get credit for their on-time rent payments.

[10:35] The benefit to renters is clear, but what is the benefit for landlords?

[12:05] This service makes the renter more accountable.

[13:36] The top 3 factors that determine a credit score.

[16:54] Many renters have no credit score or they are invisible.

[19:16] A landlord will be able to see renter’s payments for the past two years.

[24:27] Landlords have monetary incentives to get new clients for Rent Reporters.  

[30:22] The statistics that back the Rent Reporters business model.

Website:

Rent Reporters

Today's 10th Episode features Gary Pinkerton talking to Dr. Julie Kinn, military psychologist and executive producer of Military Health Podcasts, about her thoughts on healthy ways to manage your life. Gary and Julie focus quite a bit on sleep management and how to optimize your sleep in a way that lets you be the entrepreneur you want to be, as well as how sleep management can help you on those long shifts (or off shifts) that leave you worn down.

Key Takeaways:

[10:41] What kind of sleep time are we looking for

[13:25] Some of Julie's other podcasts

[17:27] Some time management or stress management tips for those trying to become entrepreneurs

[23:06] Julie's tips on a resource for getting first responders and military members through long shifts that impact your rhythm

Website:

www.Health.mil

Gary Pinkerton starts off today's show discussing Pat Donohoe's new book, Heads I Win, Tails You Lose. Some of the points brought up in the book are critical to not just your investing, but your life. Gary stresses that your net worth is not a terrible measure, but income is the most important part of the equation.

Then Jason Hartman talks with Pat Donohoe, President & CEO of Paradigm Life, about their thoughts on the recent political changes and how the U.S. economy will be affected, he shares his thoughts on the new administration with a high-level worldview and he recalls his recent experience at the Meet the Masters of Income Property event in California.

Key Takeaways:

[5:32] Your best asset, that has the highest potential, is yourself

[9:19] If you have guaranteed income, your net worth doesn't matter

Pat Donohoe Interview:

[13:05] The caliber of people at the Meet the Masters of Income Property event was a high point.

[15:52] Foxconn will bring manufacturing back to the U.S. due to Trump’s business savvy.

[22:28] Patrick doesn’t believe charity to foreign nations is in the best interest of the U.S.

[26:23] It will be fascinating to see how Trump deals with the past, present and future.

[30:49] Trump will inject adrenaline into the U.S. economy.

[33:50] Paradigm Life is an insurance-based financial services company.

[38:18] A stock market rally is a short-lived business cycle.

[40:51] Patrick describes how he makes the right investment and performs due diligence when acquiring properties.

Website:

Venture Alliance Mastermind

Paradigm Life

Gary Pinkerton talks with David Pere, active duty Marine, real estate investor and creator of From Military to Millionaire, about David's real estate journey, and how he's used the VA loan to his advantage (and how you can too).

The two also discuss strategies new real estate investors can utilize to grow their portfolio faster, extra benefits that come from being a serviceman, and why networking is so crucial.

Key Takeaways:

[6:40] David didn't understand the VA loan well enough to use it for his first property

[10:57] Gary thinks young real estate investors should seriously consider buying duplexesa nd living in one side

[15:44] Gary's issue with the BRRRR strategy

[17:31] The biggest misconception about the VA loan

[22:05] What David offers to consumers and how the other factors of being active duty actually make his pay higher than what his W2 says

[25:53] David started a real estate meetup a few months ago because networking is so important

Website:

www.FromMilitaryToMillionaire.com

Gary Pinkerton starts today's show discussing how important a personal connection is as a landlord. Some of the tenants who've been around the longest for Gary have been those that he (or his property manager) have established a rapport with. Those without a rapport tend to leave as soon as something goes wrong.

Then Jason Hartman and Ken McElroy finish up their conversation started in episode 135. This time, however, the two look into the importance of how property owners (and managers) treat their tenants, and why many people are doing it wrong. They also discuss why the American idea of home ownership may be a massive myth, and two critical pieces to your investment success.

Key Takeaways:

Gary Intro:

[3:09] Making a human connection with the tenant can do wonders for keeping them long term

[5:33] You have to pay attention to the area trends, outward migration is check mate

Ken McElroy Interview:

[10:12] It's important to treat all your residents as your customers

[11:38] Is the idea of home ownership a myth?

[13:52] Population growth and migration are two things critical to investment success

[17:11] The state of the states

Website:

www.MCCompanies.com

Gary Pinkerton focuses on the entrepreneur's mindset, as he talks with the founder of Liquor Labs, Owen Meyer. Owen is a graduate from West Point and realized as his time in the service was ending that he wanted to strike out on his own. Along the way Owen discovered he could make money teaching people how to make mixed drinks as a group activity. Hear this entrepreneurial tale and how the world today allows you to test your ideas with very little money.

Key Takeaways:

[3:03] An entrepreneur's mindset is simple: see a need, solve the need

[6:02] Creating an experience brings people together a lot better than dry content

Owen Meyer Interview:

[10:50] How Owen ended up at West Point

[17:20] What Owen's learned about building a business

[20:39] How Owen is expanding his company right now

[25:55] There are ways to test ideas without much money these days

Website:

www.LiquorLaboratory.com